gridpoint

Smart-grid companies feel growing pains

If you think utilities will swiftly adopt smart-grid technologies, consider the story of GridPoint.

Despite being only seven years old, the high-profile energy start-up has adjusted its strategy a few times and made a string of acquisitions. At first, it planned on selling home energy management systems and batteries to consumers, then shifted its focus to selling smart-grid equipment to utilities, such as software to manage home energy or charge electric cars.

Last week, GridPoint announced that it has signed a deal to supply energy management software and hardware to the United States Postal Service, which has set a goal … Read more

GridPoint buys V2Green to charge electric cars

Smart-grid outfit GridPoint on Tuesday, flush with an additional $120 million in equity funding, said it has acquired V2Green, a start-up with software to charge electric cars en masse.

GridPoint said that it has raised $100 million mainly from existing investors, which include Goldman Sachs, New Enterprise Associates, Robeco, Susquehanna International Group, and Quercus Trust. An additional $20 million is expected later.

The company makes software for utilities to better integrate distributed generation units, such as solar panels, and home devices, such as Internet-connected thermostats, into the power grid. It also makes a home energy storage unit and software for … Read more

Will plug-in hybrids crash the grid? Duke Energy says no

Duke Energy and smart grid company GridPoint said on Thursday that they have found a way for people to charge plug-in hybrid cars in a way that won't bring the power grid to its knees.

The companies said that they have completed a test using GridPoint's SmartGrid Platform device to charge up cars after 10 p.m.

The timing of when during the day plug-in hybrid cars are charged is crucial.

Oak Bridge National Laboratories earlier this month released a study that found that timing is everything when it comes to plug-in hybrids.

In the worst-case scenario, the … Read more

Smart grid outfit GridPoint fills coffers, sharpens utility focus

GridPoint, which makes software for managing electricity grids, said on Wednesday that it has raised $48.5 million in its fourth round of funding and added board members that reflect its shifting focus on utility sales.

The round was led by existing investors Goldman Sachs and Susquehanna Private Equity investments. Altogether the company has raised $88 million.

In tandem with the funding announcement, GridPoint is gaining board members who participate in different steps of the electricity grid industry.

The chief technology officer of Duke Energy, David Mohler, and the CEO of US Power Generating Co., Jacob Worenklein, are now on … Read more

Smart-grid outfit GridPoint raising money, running tests

GridPoint, which makes a distributed power generation appliance, is in the process of raising more than $32 million in a fourth round of funding.

An SEC document filed earlier this week disclosed the $32 million tranche that will be part of a larger investment to be announced in a few weeks, according to a company representative. The investors in this portion of the round include Goldman Sachs, Altira Group and Standard Renewable Energy Group, according to PEHub which first uncovered the filing.

GridPoint, which I wrote about one year ago, makes home storage appliances tied to renewable energy systems, such … Read more